What is 'ClaimSpec'?
Launched in 2010, 'ClaimSpec' is a fully integrated Continuous Competitive Tendering system, which allows insurers to drive significant financial and time savings out of all property damage claims, regardless of peril. Commercial or domestic, no claim is too big or too small.
'ClaimSpec' will ensure that repair works are undertaken by a network of previously vetted, good local contractors, at local prices, all of whom have local reputations to protect. There is no 'middle-man' involved and Ellipta make no charge to their contractors for their inclusion upon our select lists. All we ask is for their commitment, reliability and dedication to the provision of a quality service.
'ClaimSpec' is carried by all of our engineers and surveyors when they first visit and inspect a property. It permits them to accurately measure and draw the property and develop a bespoke and accurate schedule of repairs. It minimizes the use of provisional sums and prepares a detailed schedule in a manner which can be presented to the insured in an easy to read and understandable format during our initial visit. Ellipta have developed their site-based systems using proven and sophisticated touch screen and internet technology.
Our on-line continuous tendering system ensures that insurers benefit from best available current market rates. Our arrangements with contractors protect insurers from the post event inflation that often occurs in the market after claim surges, and ensures that they significantly benefit from the competitive rates that Ellipta have already secured.
The system is also used for all subsequent interim contract valuations, variations and final account calculations. This facilitates regular and reliable reserve updates to insurers. Use of the system means that all contract variations are properly recorded allowing complete transparency of the claim journey and provides an audit trail of any additional expenditure.
We fully understand that every insurer client has their own business needs and preferred methods of working, and indeed every claim and customer is unique in their requirements. 'ClaimSpec' is fully flexible in this regard and can be adapted to suit any insurers own existing communication and management systems.
• Reduces claim settlement times
• Improves customer satisfaction and claim experiences
• Delivers significant financial savings to insurers
• Avoids costly over specification
• Applies competition to every claim by use of internet based continuous competitive tendering
• Reduces overhead costs to contractors
• Provides full transparency of all variations and additional costs
• Maintains a full audit trail
• Reduces leakage
• Improves efficiency by streamlining processes
Our Chief Executive, Geoff Davies, says:
"Within just a few days of instruction, a property is visited, the loss validated, a scope of remedial repairs accurately prepared, the costs of the works competitively identified, policyholder approval obtained, and a local contractor appointed. 'ClaimSpec' is an exciting innovation for Ellipta and revolutionises the way in which property damage claims are dealt with."